The US Treasury Department has included JSC Norilsk Mining and Metallurgical Plant (MMP) and Bystrinsky Mining and Processing Plant (MPP), as well as a number of other subsidiaries of Norilsk Nickel, in the new SDN list.
“[In order] to reduce Russia’s revenues from metals, today Treasury is targeting entities involved in Russia’s metals and mining sector, including steel, iron, and coal mining firms and auxiliary firms that provide specialized services to Russian metals and mining companies,” the department said.
Interfax reports that Norilsk MMP owns a number of enterprises not related to metal production. However, Bystrinsky MPP, which has also been sanctioned, produces copper and iron ore concentrate, which are shipped to China.
At the same time, Norilsk Nickel itself believes that the impact of the new sanctions will be limited.
"The production and sales enterprises of the group (PAO MMC Norilsk Nickel, its Polar Division and subsidiaries, Kola MMC and its subsidiaries) were not subject to US sanctions on August 23, 2024. A number of the group's service companies were included in the sanctions list," a company representative told Interfax.
Other subsidiaries of Norilsk Nickel were also subject to sanctions. Among them are NN Tekhnicheskie Servisy, Nornickel Sputnik, Norilsk-Avia, Norilsk Obespechivayushchiy Kompleks, Norilsk Promyshlenniy Transport, Norilsknikelremont, Zapolyarnaya Stroitelnaya Kompaniya, and Vostokgeologiya.
Theodor Lisovoy, Managing Editor, Rough&Polished
